“In other words, the market will manage itself and adjust accordingly,” he said.

“I like to listen to what the word on the street is because it provides me a decent insight into current consumer sentiment.”

Comment

The above is evidence that the metaphor “invisible-hand” is used as a mere space-filler in modern speech. It means nothing of substance other than to give speakers and listeners the pretence that they are knowledgeable about the mysteries of ecoomics.

The above quoted piece carries two contradictory ideas:

1 “the “invisible hand” will direct the market;

and

2 “In other words, the market will manage itself”.

Now which is it? Ronnie Elhaj does not elucidate.

Why?

Because he can’t. Neither can any other believer in the mythical invisible hand.